Robert Besser
25 May 2022, 20:56 GMT+10
MOSCOW, Russia: In the latest escalation of an energy payment dispute with Western nations, Russia's Gazprom has halted gas exports to neighboring Finland.
Due to sanctions imposed on Moscow over its invasion of Ukraine, Gazprom has demanded that European countries pay for Russian gas deliveries in roubles, but Finland has refused to do so.
Finland is also applying to join the NATO military alliance, a decision driven by Russia's invasion of Ukraine.
In a statement this week, Finnish gas system operator Gasgrid Finland said, "Gas imports through Imatra entry point have been stopped."
Also, Finnish state-owned gas wholesaler Gasum said Gazprom had warned that flows would be halted from 0400 GMT on May 21.
"Natural gas supplies to Finland under Gasum's supply contract have been cut off. Starting from today, during the upcoming summer season, Gasum will supply natural gas to its customers from other sources through the Baltic connector pipeline," Gasum said in a statement.
While most gas used in Finland comes from Russia, gas only accounts for about 5 percent of its annual energy consumption.
Moscow cut off gas supplies to Bulgaria and Poland last month after they refused to comply with the new rouble payment terms. Most European supply contracts are denominated in euros or dollars, rather than roubles.
Gasum, the Finnish government and individual gas consuming companies in Finland have said they were prepared for a shutdown and will manage without Russian gas.
"The Finnish gas system is in balance, both physically and commercially," Gasgrid added.
Meanwhile, Finland said it will charter, starting in the fourth quarter this year, a storage and regasification vessel from Excelerate Energy in the U.S. to help replace Russian supplies.
Get a daily dose of Zimbabwe Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Zimbabwe Star.
More InformationMOSCOW, Russia: The UK newspaper, the Telegraph, has been blocked in Russia, following a request from the Russian prosecutor-general.The TASS ...
LAHORE, Pakistan - An Airbus 320 carrying 171 passengers narrowly avoided an accident at Allama Iqbal International Airport, Pakistan's second-largest ...
WASHINGTON, DC - U.S. President Joe Biden on Friday vowed to "do all in my power" to protect a woman's ...
YANGON, Myanmar - According to military-run media, a junta delegation discussed nuclear technology collaboration with a Russian state-owned atomic energy ...
DHAKA, Bangladesh - The United States Agency for International Development (USAID) is providing more than Tk2.3 crore in emergency funding ...
PHNOM PENH, Cambodia: Cambodian villagers on the Mekong River have caught a stingray fish weighing 661 pounds, which is the ...
New Delhi [India], June 25 (ANI): Ahead of the G7 Summit where he will be meeting with German Chancellor Olaf ...
Mogadishu [Somalia], June 25 (ANI/Xinhua): Somali Parliament on Saturday unanimously approved the appointment of Hamza Abdi Barre as the country's ...
New Delhi [India], June 25 (ANI): ATK Mohun Bagan have further added to their list of acquisitions and maintained its ...
© Provided by Xinhua In America, the wealthy, powerful, and influential NRA spends millions of dollars annually supporting Republican candidates ...
ABU DHABI, 25th June, 2022 (WAM) -- President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory ...
London [UK], June 25 (ANI): Nottingham Forest on Saturday confirmed the signing of Nigerian international forward Taiwo Awoniyi for a ...